EIP-1559 — Trading Ideas on TradingView

Ethereum EIP-1559 "London Fork"Ethereum is attempting to enter back into the acceding channel. Update made a positive move. Watch out for rejection from this level as we are Over Priced on the RSI and hitting the trend line. Eth was able to break the 2,500 Lvl unlike BTC having trouble taking 42,000. We really want BTC to break 42,000 and hold to see good gains in ETH and Alts. This update will bring ETH to an all-time high in the mid to long term. Due to Eth burns and cheaper gas fees. Shorter-term anything is possible if we have a dip, btd. Smogster...

Eth Long in spot/futures resistances/fibs/supports Eth has been amazing to say the leas. futs and spot holders can use these levels for TSL/take profits $eth looking awesome, following channel in wave count its at major wave 5, subwave 1 is done. subwave 2 was a abc correction now doing a i-ii alternates in the subw. 3. even tho negative rsi diveregence on 4h, but shud retrace/sort and continue advance

🔥 Ethereum Huge News: New Protocol EIP 1559 Ethereum is one of the major performers of the current market. Not only is ETH performing outstandingly, it's also leading the market. ETH pumps, the rest follows. One of the major catalysts for the current ETH price action is the fact that there's some great news coming out. As of today, ETH has upgraded it's token protocol to (EIP) 1559, which is arguably one of the biggest upgrades that ETH has seen to date. What is (EIP) 1559? At the moment, it's very costly to make an ETH transaction since users have to bid manually how much they're willing to pay for a transaction to get accepted by the network. Under the new protocol, this bidding process is automated and will vary based on the amount of congestion of the network. Another major change under EIP-1559 is that part of every transaction fee will be burned, which will reduce the supply of ETH and create a higher amount of scarcity, potentially leading to a further increase in price. Price Action Over the past couple of weeks we've seen a double bottom (triple if you count the May wick) price reversal pattern, also known as a W-shaped recovery. With ETH breaking through the $2600 resistance level and retesting it, a solid support has been created at the $2600 level. If ETH manages to cross the green area of resistance, I'm willing to bet that we're going to see $4000 again in the coming weeks. Furthermore, ETH dominance is currently going through the roof, further boosting the confidence in this coin. Happy trading!

Ethereum Time Is Running Out! Prices Will Go Up.If you don't own at least 1 Ethereum you still have time. Owning 2 or more is even better. I know I've been sounding like a broken record but I seriously believe Ethereum will have a tremendous price value in the not so distant future. Owning at least 1 Ethereum will guarantee that you have some wealth and longevity in this space. The future of Decentralized Finance and economics is within Ethereum which is easily a multi-trillion dollar market in the coming years. Ethereum under $2500 is a bargain considering the events and changes in the months to come that I believe will have a positive impact on price. On the weekly MACD we're starting to loose negative momentum and heavy sell pressure since mid May of this year. We're not overbought on the RSI which indicates there's some still some more run-up. But also keep in mind that on the monthly time frames we're still a little heated. Consider this: * EIP-1559 will make Ethereum deflationary and limited. It will also reduce gas fee's and forever burn Ethereum which will create a limited supply. * EIP-1559 commences in roughly 2 days so far the biggest upgrade in Ethereum's history. * We have strong support at $1690 and strong Resistance at $2900. * This has been a heavy accumulation period in the entire cryptocurrency space. * Bitcoin has defended the critical $30,000 support level. * We're approaching the Golden Zone on the Fibonacci Levels (Golden Zone = 0.382 between 0.618) My approach to the crypto-currency market and trading is always long term. I encourage you to have a long term mindset in these markets. Ethereum will be primed for serious gains considering we hit new all time highs on the Bitcoin pairing and re-test all time highs on the USD pairings. Believe in you're investments and be patient! Ethereum is key to the growth and future of this entire market. Cheers! Much peace, love, health, and wealth as always!